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Thursday, August 21, 2008

Yesterday I made some purchases......BIDU at $304 and GOOG at $490.......I took profits in the past two day in XTO, CHK, CLR. They will most likely continue going up with Oil but I wanted to regroup and take profits. If they dip at all, I will be back in!

I bought BIDU because the company is growing very fast and it continues to blowout quarterly earnings. Baidu revealed they are taking even more market share from competitors in China. Baidu.com only trades at 45 times 2009 earnings which is cheap compared to how fast it is growing. If you missed the Google ( GOOG ) IPO, here is your chance!

I bought GOOG because this is the time of the year you want to be in the stock. You accumulate in the summer sell in December. Google under $500 has always been a steal!

Keep in mind, I have taken half positions on both....if we get dips, I will continue to add.

These are my two stocks for the rest of the year....the Garmin had to go the second they said Nuvifone was delayed. I will look at Garmin ( GRMN ) again in the future.

Guy AdamiSLB: Take some money off the table....but I think it still has upsideUS Steel X : This is sell the rally mode..you have to sell

Joe TerranovaOil: Speculators sold this market short under $120 and this is a short squeeze.USO: I'm letting this ride...need to get above $122 for oil and the run continues.US Steel X: It should be up, but its not...i'm thinking about selling itFCX: I am playing copper with going long Freeport FCX

John NajarianUSO: I would be taking money off the tableXLY: We are short the XLY...this is shorting the consumerJoy Global JOYG: We are long this stockRIMM: Could be setting up to really break out hereCoal Stocks: UBS upgrading a lot of coal names today....MEE, BTU

Today Oil is surging near $120 a barrel yet again. This is due to the USA and Poland getting together for a missle defense deal. Targeted at the distubance in Russia, this has people worried, hence, driving up oil prices.